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The Rise and Fall of Growth

Posted in Contemporary economics Tagged with: , , , , ,

SAN FRANCISCO – It was just two years ago that Thomas Piketty directed economists’ attention to rapidly rising degrees of inequality with his weighty tome Capital in the Twenty First Century (Harvard, 2014). We know too much to return to the single-minded preoccupation with distribution exemplified by nineteenth century pioneers such as Malthus, Ricardo, and Marx.  A series of industrial revolutions has seen to that. The growth of knowledge has made room on the planet for the lives of billions of persons, and dramatically raised longevity and living standards among them around the world. But what if the rate of